Morgan Stanley Reiterates Overweight Rating, Cuts Fisker Price Target to $30, Thesis Remains Largely Intact

In a new research report released by Morgan Stanley after yesterday’s market close titled, “Ocean on Track, Expenditures Rise: Target Cut to $30, Remain OW”, Adam Jonas, Head of Global Auto & Shared Mobility Research, reiterates his stock rating on Fisker ($FSR) shares with an Overweight rating. He was one of many analysts that attended Fisker’s Q4 2021 earnings call that remains upbeat on the company’s future.

It’s an exciting time for FSR and the potential upside for equity holders is significant, in our view. However, investors must also balance this with the reality that ramping an EV, even with the help of Magna, will require significant amounts of liquidity to de-risk.

Adam Jonas, Morgan Stanley Research Update, February 17, 2022

Equity analysts that attended the earnings call earlier this week had an overall positive reception. Several of them reiterated their previous stock rating:

  • Citi analyst lowered price target to $29 from $30 and keeps Buy rating.
  • RBC lowered price target from $26 to $19 and maintains an Outperform (speculative risk) rating.
  • Credit Suisse lowers price target to $25 and maintains Outperform rating.
  • R.F. Lafferty Equity Research with a $21 price target and a Buy rating initiation.

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